Thursday, February 19, 2009

Quantitative Easing: Printing Money

The Bank of England is about to fire up its printing presses, and start printing money, and consequently the value of the pound in your pocket is about to go even further down.

Already a pound today buys what a penny or a ha penny did in Victorian times, and remember that there were 240 pennies to the pound back then, So an income of four pounds a week in Victorian times was equivalent to a salary of 70000 now.